New Zealand Insurance Q1 2020
As of late 2019, the prospects for New Zealand’s insurance sector are less exciting than indicated by the anticipatedgrowth in premiums written. Modest economic growth and population growth will contribute to higher volumes in both the life andthe non-life segments. At the margin, greater understanding of the benefits of life insurance may boost premiums in that segment.In the non-life segment, most growth will come from the motor vehicle and property sub-sectors: this is where insurers will beincreasing prices - with official approval - to compensate for higher claims, both actual and anticipated.
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